Tokyo Electron (OTCMKTS:TOELY) Shares Gap Down on Analyst Downgrade

Tokyo Electron Ltd. (OTCMKTS:TOELY)’s share price gapped down before the market opened on Friday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock had previously closed at $137.00, but opened at $130.66. Tokyo Electron shares last traded at $133.12, with a volume of 29,438 shares changing hands.

Tokyo Electron Trading Down 2.5%

The firm has a market capitalization of $125.94 billion, a P/E ratio of 33.89 and a beta of 1.88. The business’s fifty day moving average is $109.08 and its 200 day moving average is $94.89.

Tokyo Electron (OTCMKTS:TOELY) last posted its quarterly earnings results on Friday, October 31st. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $4.27 billion for the quarter, compared to analyst estimates of $4.06 billion. Tokyo Electron had a net margin of 21.74% and a return on equity of 28.36%. As a group, sell-side analysts predict that Tokyo Electron Ltd. will post 3.23 earnings per share for the current fiscal year.

About Tokyo Electron

Tokyo Electron (OTCMKTS:TOELY) is a Japan-based manufacturer of equipment and services for the semiconductor and flat-panel display industries. The company develops, produces and sells a broad range of wafer fabrication tools used across front-end and back-end semiconductor processes, including equipment for etch, deposition, thermal processing, wafer cleaning and inspection, as well as production systems for advanced packaging and assembly. In addition to semiconductor tools, Tokyo Electron supplies production equipment and process solutions for flat-panel displays and related display technologies.

Beyond capital equipment, Tokyo Electron provides lifecycle services such as installation, maintenance, spare parts, process support and software solutions aimed at maximizing tool uptime and process yield.